OREANDA-NEWS. December 7, 2012. The Board of Directors of Alliance Oil Company Ltd has decided to convene a Special General Meeting of shareholders. The meeting will be held on December 14, 2012 at 13.00 (CET) at the head office of Carnegie Investment Bank, Regeringsgatan 56, Stockholm, Sweden. The premises will open at 12.00 (CET).

The board is proposing that the EGM should resolve to authorize the Board of Directors to issue preference shares and resolve on payment of dividend on preference shares as well as resolve on amendment of current bye-laws. The complete notice, which includes proposals to the EGM, is attached to this release and posted on Alliance Oil Company's website, www.allianceoilco.com.

Alliance Oil Company Ltd is a leading independent oil and gas company with vertically integrated operations in Russia and Kazakhstan. Alliance Oil has proved and probable reserves of 760 million barrels of oil equivalent and downstream operations that includes the Khabarovsk refinery and the leading network of gas stations and wholesale oil products terminals in the Russian Far East. Alliance Oil's depository receipts are traded on the NASDAQ OMX Nordic under the symbol AOIL.